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A unit inside the Adam Hats building in Deep Ellum. (Photo: Deep Ellum Lofts)

Can you live La Vie Boeheme in Dallas anymore? It seems like, with all of the increases in property valuation, it’s getting harder and harder for artists to live in Big D. Rents are up throughout the city, but in areas with high levels of walkability that are close to transit, shopping, and jobs demand even higher prices.

And that’s leaving some folks in Dallas a little salty. According to Apartment List’s Sept. 2016 rent report:

Dallas rents grew by 0.1% in the last month

Dallas rent prices increased by 0.1% between July and August and are up 6.5% over August 2015, a larger year-over-year increase than statewide and national averages. 1-bedrooms in Dallas have a median rent price of $1,210, while 2-bedrooms cost $1,610.

Dallas remains the most expensive city for renters in the metro

  • Plano: Plano is 2nd only to Dallas for highest rents in the Dallas metro. 2-bedrooms there cost $1,500, while 1-beds run $1,140. Plano also showed the 2nd largest rent increase, up 8.8% year-over-year.
  • McKinney: McKinney is the 3rd most expensive city for renters in the metroplex. A 2-bedroom has a median rent of $1,370, and 1-bedrooms cost $980.
  • Irving: Rent prices in Irving are the 4th highest in the metro. 2-bedrooms in Irving have a median rent of $1,330, and 1-beds cost $980. Irving rents increased by 8.2% over last year.

Yikes! We have to wonder if the lack of affordable housing will mean more people opening up that restaurant in Santa Fe, or more people may see these climbing prices as Dallas saying, “Take Me or Leave Me.”

At any rate, if you’re feeling the pinch of high rents, we want to give you a pair of tickets to see RENT at the AT&T Performing Arts Center during the legendary Broadway show’s Sept. 20 premiere at the Winspear Opera House.

Jump to enter!

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Jordan invitation

We will be serving French 75, the drink that got me in trouble last week — KIDDING! No, we are going to let our hair down, maybe even go curly, so do pop over for a look/see at the most luxurious apartment living in Dallas du jour. I hear the views are to die for…

These new stats just crossed my desk from my friend Andrew at ApartmentList, so I’ll share. I mean, compared to Plano, Dallas is almost a friggin’ bargain! (ALMOST!) (more…)

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Location is king, but renters want clean, updated units with great appliances, too.

I hereby dub 2016 as the “Year of the Renter” as I’ve seen more studies and press releases in the past month prognosticating rental trends and preferences than I have all through 2015. We’ve seen how Dallas rental rates take a smaller chunk of residents paychecks than in other places, we’ve seen how renters are growing in market share as demand remains strong, and we’ve seen that there’s an affordability problem when it comes to Dallas properties for rent.

And of course, we did some well-thought-out navel gazing about the 10 most expensive rentals in Dallas-Fort Worth. All of those stories are well worth a glance with your eyeballs.

But we haven’t covered yet is what renters really want. So, the National Multifamily Housing Council and Kingsley and Associates are going to tell us what they want (what they really, really want).

As it turns out, renters want peace and quiet, proximity to nightlife, and a relatively short (but not too short!) commute. Jump to see an infographic covering all of the amenities renters are looking for right now.

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We’re keeping tabs on what it costs to rent luxury digs here in Dallas-Fort Worth. Last time we checked in, the most expensive rental in our region was a Spanish-style home in Volk Estates priced at a whopping $20,000 a month. Let’s just say that the list has become a tad more modest since, with the highest priced rental coming in at $15,900 and in Plano, natch.

Still, renting in North Texas is a challenge for most, as supply is tight, forcing rents skyward. If you think it’s expensive to find a good apartment, single-family home, or a condo for rent, it’s not going to get any easier any time soon according to this report from the Joint Center for Housing Studies at Harvard University. Demand for rental housing has increased by 9 million households between 2005 and 2015 — the fastest increase in recent history. Likewise, the share of households that rent versus own their residence has increased from 31 percent to 37 percent in the same time period.

That kind of growth in the rental market has had developers scrambling to build apartments to catch up. Even the luxury market is feeling the squeeze.

But if you’d rather not think of the harsh realities our rental market is facing and you’d rather stare at some genuine house porn, the folks at RentCafe have compiled this tidy list of luxe rentals sure to boggle your mind. Jump to see the top 10 most expensive rentals in all of Dallas-Fort Worth.

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Photo by: Ann Marie Marthens

Photo by: Ann Marie Marthens

Ann Marie Marthens has a two bedroom charmer in Highland Park she is leasing for $3,000 a month. Nestled on Abbott Avenue, it’s close to Armstrong Elementary and within walking distance to all the fun on Knox/Henderson and the Katy Trail.

As the property owner, she listed it on Trulia, as well as mentioned its availability on the Park Cities Online Yard Sale group on Facebook a few days ago – and then something weird happened. (more…)

Airbnb start

Last week, I was honored to attend the Tutu Chic Fashion Show and Luncheon for the Texas Ballet Theater, which was beyond awesome. During lunch, a friend asked me if I knew about a home in her University Park neighborhood that was being leased out for short terms, like a week or two at a time. Oh, I said, like with Airbnb? She had no idea what Airbnb is. I informed. Not sure if the UP homeowner was working with Airbnb or another on-line online community marketplace, as they are called, but the home clearly has a lot of short term renters coming and going.

Airbnd connects people looking to rent their homes with people who are looking for accommodations. Airbnb users include hosts and travelers: hosts list and rent out their unused spaces, sometimes a room in their home, a back guest house, or even the whole house. Travelers search for and book accommodations in 192 countries worldwide. It’s staying in a private home like a hotel or bed and breakfast, which is actually how the company first started — serving breakfast with the room. Recall this was done ALL OVER DALLAS during Superbowl XLV — the M Mansion in The North Dallas Forty reportedly rented for $280,000 for five days.

Airbnd started in San Francisco thanks to the real estate market. Literally, two guys who could not pay their rent, came up with the idea of letting people pay to sleep in their apartment on air mattresses. It worked. They not only paid their rent but started a $10 billion dollar company. (more…)

"The Worst Room" is a hilarious and depressing Tumblr blog focusing on the sad state of rentals in New York and beyond. This listing, via Dallas Craigslist, is especially sad.

“The Worst Room” is a hilarious and depressing Tumblr blog focusing on the sad state of rentals in New York and beyond. This listing, via Dallas Craigslist, is especially sad.

I stumbled across this sad, sad Tumblr blog not too long ago and completely forgot about it. It’s the blog of a New Yorker who was going through the depressing task of finding a suitable rental in the city that wasn’t a dungeon, a closet, or a tent in the backyard of a derelict Brooklyn Brownstone (they’ve seen it all!). It’s somewhat in the vein of Terrible Real Estate Agent Photos, which we love.

And then someone sent me a Facebook message pointing me to a post about a Dallas room for rent, offered by a “single Hispanic man” who prefers a female. While this is a one-bedroom apartment, don’t worry, you won’t be sharing rooms. He’s offering up his unfurnished living room because, hey, he’s not using it right now. If you have $300, this empty living room has some things going for it, including a window and access to the outdoors.

Sounds perfect and not sketchy at all!

Mark Kreditor and Candy

Mark Kreditor and Candy

If you want to find out more about the investment market and the potential for rental, head over to tonight’s monthly meeting of the North Texas Association of Real Estate Investors as they host Preston Hollow resident Mark Kreditor of Get There First Realty.

Kreditor, who is both a fantastic musician and incredibly clever real estate investor, will do a presentation on the North Texas rental market entitled “Is This The Best … Or Worst Investor Market We Have Seen in D/FW?” Kreditor will dissect new laws and regulations that have had a major impact on the market, including property code and telling new statistics.

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